Royal London Asset Management Ltd. Buys 131,449 Shares of Molson Coors Beverage Company $TAP

Royal London Asset Management Ltd. raised its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,040,545 shares of the company’s stock after purchasing an additional 131,449 shares during the period. Royal London Asset Management Ltd. owned 1.03% of Molson Coors Beverage worth $95,253,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GoalVest Advisory LLC bought a new position in Molson Coors Beverage during the 4th quarter worth $25,000. SBI Securities Co. Ltd. grew its holdings in Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after acquiring an additional 244 shares during the period. Basepoint Wealth LLC acquired a new stake in Molson Coors Beverage during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC grew its holdings in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after acquiring an additional 221 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after acquiring an additional 518 shares during the period. 78.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TAP shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Friday, March 27th. BNP Paribas Exane decreased their price target on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a report on Wednesday, June 3rd. Barclays decreased their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Finally, Sanford C. Bernstein decreased their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.88.

Molson Coors Beverage Price Performance

TAP stock opened at $41.56 on Friday. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year high of $54.82. The company has a market cap of $7.79 billion, a P/E ratio of -3.91 and a beta of 0.41. The firm has a 50-day moving average of $42.19 and a 200 day moving average of $45.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. Molson Coors Beverage’s revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.